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3 years ago

Which transaction or event required the journal entry: debit Interest expense for $250 and credit Interest payable for $250

Business

1 answer:

adelina 88 [10]3 years ago

6 0

Answer:

Loan or loan note with a specific interest rate

Explanation:

When the firm has taken a loan from the bank or issued loan notes which have the specific interest rate or coupon rate respectively paid in arrears. The interest expense will accrue each year with the entry by debiting the interest expense and crediting the interest payable and when the interest will be paid the entry will be credit cash and debit interest payable.

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Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $37,5

valkas [14]

Answer:

e. $12,900

Explanation:

Given that:

Net Cash provided by operating activities = $37,500

Net Cash used in investing activities = $13,800

Net Cash used in financing activities = $17,700

Beginning cash balance = $6,900

Stormer company's ending balance would be;

= Beginning cash balance + Net cash provided by operating activities - Net cash used in financing activities - Net cash used in investing activities

= $6,900 + $37,500 - $17,700 - $13,800

= $12,900

7 0

3 years ago

A company decides to establish an EOQ for an item. The annual demand is 400,000 units, each costing $9, ordering costs are $35 p

Vitek1552 [10]

Answer and Explanation:

a. The computation of the economic order quantity is shown below:

$= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}$

$= \sqrt{\frac{2\times \text{400,000}\times \text{\$35}}{\text{\$1.98}}}$

= 3,761 units

b. The number of orders would be equal to

= Annual demand ÷ economic order quantity

= 400,000 ÷ 3,761 units

= 106.35 orders

c. The computation of the total cost is shown below:

= Purchase cost + ordering cost + carrying cost

where,

Purchase cost = Annual consumption × Cost per unit

= 400,000 × $9

= $2,800,000

Ordering cost = (Annual demand ÷ EOQ) × Cost to place one order

= (400,000 ÷ 3,761) × $35

= $3,723

Carrying cost = (EOQ ÷ 2) × carrying cost percentage × Cost per unit

= (3,761 ÷ 2) × 22% × $9

= $3,723

Now put these values to the above formula

So, the value would equal to

= $2,800,000 + $3,723 + $3,723

= $2,807,446

3 0

4 years ago

Tyler Co. predicts the following unit sales for the next four months: April, 3,100 units; May, 4,900 units; June, 7,000 units; a

Naddika [18.5K]

Answer:

Production Budget April 3970 May 5530 June 5740 units

Explanation:

Tyler Co.

Production Budget

For the months of April, May, and June.

Particulars April, May, June July

Sales 3100 4900 7000 2800(given)

+ Desired Ending Inv. 1470 2100 840

Less Beginning Inv. 600 1470 2100

Production Budget 3970 5530 5740 

The Production budget is calculated by adding sales to the desired ending inventory and subtracting the beginning inventory from it. Each month's ending inventory is next month's beginning inventory.

The Ending Inventory is calculated by taking 30% of the next months' sales.

Ending Inventory for April = 4900*30%=1470

Ending Inventory for May = 7000*30%=2100

Ending Inventory for April = 2800*30%=840

7 0

3 years ago

Assume all excavators delivered in 2018 are delivered at year end, calculateTGX’s 2018 revenue based on the transactions describ

Troyanec [42]

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6 0

4 years ago

Peg and Al Fundy have a limited food budget, so Peg is trying to feed the family as cheaply as possible. However, she still want

Inga [223]

Answer:

A) we requiere to fulfill the Vitamint contrains or surpass them A => 12 C=>6

B) we request that instead of fullfilling the vitaming requirement to be 12/6 or more

to be exactly for this amount.

Explanation:

We set up the situation in excel Solver with the following constraing:

1 2 3 4

A 3 3 1 7

B 3 1 1 1

C 12 6 24

C2 = A1*A2 + B1*B2

C3 = A1*A3 + B1*B3

C4 = A1*A4 + B1*B4

common constraing:

C4 min

A1 = integer

B1 = integer

A) constraing

C2 => 12

C3 =>6

B) contraing to achieve the exact value for each vitamin:

C2 = 12

C3 = 6

4 0

4 years ago